Updates on Tax Bill Planning Seminars

Hello all,Well my beloved Vikings will not be the first to play in the super bowl in their home stadium; did not break the 0-12 record indoor teams have when playing the division championship game outdoors; nor do the records and stats established during the regular season mean much in the playoffs...I digress. Today we celebrate the birthday of our middle daughter; wow, where does the time go?!?

Budget - The government shutdown was brief and hopefully the last, yet another deadline looms just around the corner (2/8/18) as a long-term agreement couldn't be reached. By law, the president is required have submitted his budget proposal to Congress by the first Monday in February...State of the Union address on January 30th will likely provide some insight.

China syndrome - This is not the movie from 1979, non-fiction and current. Rhetoric surrounding a global trade war appear to be already at hand. Who's estimated numbers are correct, net job losses or gains from the recently implemented tariffs?

Markets - The US dollar is at level not seen in nearly 3 years, yet US soybean exports are off significantly year over year. The grain markets all had a solid week, giving cause for increased optimism and turning the corner for bullish.

Wheat - The latest update from the IGF (International Grain Council) has world wheat stocks ending at their tightest in more than 10 years. This accounting is less Chinese inventory, an estimate of stocks that are accessible to the world from the major exporting countries. Production forecast is estimated to be at the lowest levels since 2012/13 crop year. Markets closed the week to the positive - +.18 Chicago, +.155 KC, and +.06 for Minneapolis.

Livestock - December yielded record high pork production for the month, slaughter up 3% from 2016. Beef production was off 1% for the month compared to 2016, year end production was up 4%.

Crop Comments from producers across this great land...

Greene County, IL: We planted some cover crops late Oct n first week of Nov n while tiling recently we noticed that wheat n cereal rye still not sprouted yet just lying in dry dirt. St Louis tv weather reporters are saying from June to Dec we are 14" behind normal rainfall. Mother nature has a way of averaging things so we are expecting a wet spring.

Knox County, NE: I don't get the Jan. USDA report. There were so many stories of 20-60 bushels per acre of corn on the ground across the state and the yield is still 3 bushes above average. I just don't buy it.

Elbert County, CO: Western KS wheat was in trouble before the recent frigid temps, now I expect winterkill to be very evident.

Shame, shame, everyone knows your name - A story of a farmer from Michigan that has been arraigned on fraud charges. I've had conversations with growers regarding abuse of the program, the culprit's dirty deeds will eventually be found out. It will take some time, as the government moves very slowly, but will eventually fin out. This case is nearly 5 years old...

Weather - La Nina weather pattern continues to influence the weather in our hemisphere. US is drier than the prior 2 winters which produced significant wildfires across the southern plains. Brazil is too wet, Argentina is too dry... read this temperature outlook